On Monday (March 1), Nasdaq-listed business intelligence company MicroStrategy Inc. (NASDAQ: MSTR) lent some much-needed confidence to the crypto market by announcing the purchase of more Bitcoin for its corporate treasury.
Here is how Michael J. Saylor, Co-Founder, Chairman, and CEO of MicroStrategy, announced that his company had “purchased an additional ~328 bitcoins for ~$15.0 million in cash at an average price of ~$45,710 per bitcoin.”
This brings the total number of bitcoins that MicroStrategy is now HODLing to 90,859.
According to data by TradingView, minutes later (at 13:16 UTC) on crypto exchange Bitstamp, the Bitcoin price reached $48,521, which is the current intraday high.
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.